Anthropic's tokens cost 4.4x average, developers pay anyway

Anthropic captured 65.1% of total revenue on Vercel's AI Gateway in July while accounting for only 30% of tokens processed, according to Vercel data. Its per-token pricing runs about 4.4 times the average of competing providers.

Why it matters: This is concrete evidence that developers value Claude's output quality enough to pay a steep premium, reinforcing Anthropic's reported jump to $65B in annualized revenue. It suggests price competition among LLM providers hasn't compressed margins for the highest-quality models, at least among professional developers building production applications.